TRUST AGREEMENT
THIS LIVING TRUST (the “Trust”) dated this 1st of December, 2019.
BETWEEN:
EVANGELINE C. CLARO of 22 Navy St., Veterans Village,
Pasong Tamo, Quezon City,
(the “Trustor”)
-and-
BYRON C. CLARO of 66 Second St., Veterans Village,
Pasong Tam, Quezon City.
(the “Beneficiary”)
-and-
ALLYZZA MARI CONCEPCION of Roque I Pasong Tamo
Quezon City.
(the “Trustee”)
WITNESSETH:
FIRST, The TRUSTOR hereby assigns, transfers, and sets over unto the
TRUSTEE, its lawful successors and assigns, the herein described real
property, which is hereby designated as “BYRON C. CLARO Trust Fund”:
A parcel of land (77831 Eastern-Part) situated at 1234 Roque I
Brgy. Pasong Tamo, Philippines. Bounded on the North by Lake, on
the East by SE 81 (Lot 54021) on the South by SW Brgy. Road;
and on the West by NW 67 (Lot 00795). Containing an area of
TWENTY SEVEN THOUSAND SQUARE METERS (27,000 SQ.
MTS.)/THREE HECTARES (3.00).Covered by Tax Declaration No.
01-0235-33683-WS and declared in the name of POWERPUFF
CORPORATION.
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Any buildings or structures on the property and anything now or later
attached or fixed to the buildings or the property including additions,
alterations and improvements located on, above or below the surface of the
property are covered by this Trust. Any addition, alteration or improvement will
be subject to all recorded easements, rights of way, conditions, encumbrances
and limitations, and to all applicable building and use restrictions, zoning laws
and ordinances, if any, affecting the Property.
SECOND, TO HAVE AND TO HOLD, unto the TRUSTEE, its lawful successors
and assigns, in trust, and for the use and benefit of the herein BENEFICIARY:
BYRON C. CLARO of 66 Second St., Veterans Village,
Pasong Tam, Quezon City.
THIRD, The TRUSTEE shall have the following duties and powers:
1. To collect and apply the income from said fund for the benefit of
the above-named beneficiary;
2. To hold said insurance policies without any obligation of any
nature in respect thereto other than the safekeeping thereof during the life
of the TRUSTOR and upon receipt of the proof of his death, or that any of
said policies shall have matured, to use its best efforts to collect and
receive any and all sums of money payable thereunder and when so
collected and received to hold and invest said sums of money as a trust
fund or add the same to any trust fund already existing hereunder, for the
benefit of the aforesaid beneficiary;
3. To apply the income from said trust fund quarterly or oftener as in
its absolute and uncontrolled discretion may deem advisable, for the proper
care, support and education of the beneficiary;
4. To receive any other property, real or personal, devised,
bequeathed, assigned, granted or conveyed to it by the TRUSTOR, or by
any other person, for the purposes of the Trust hereby created, and all
such property shall be held by the TRUSTEE subject to the terms of this
Trust, as if it or they had been included in the description of the property
hereby transferred to the TRUSTEE. Any sum of money or other property
so received shall immediately constitute a trust fund, or be added thereto,
to be held, invested and managed, and payments therefrom made, in
accordance with the purposes of this Trust;
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5. To have full power and authority, in its absolute and uncontrolled
discretion, to improve, sell, lease, mortgage or exchange, the whole or any
part of such property, whether real or personal, upon such terms and
conditions as may to it seem and advisable, and to invest and reinvest any
of the trust funds held hereunder, in such amounts as it may see fit, in
such property, real or personal, as it may, in its absolute and uncontrolled
discretion, deem advisable.
FOURTH, This Living Trust is irrevocable by the Trustor; Provided, however, that
after his death, this TRUSTEESHIP may be terminated by the unanimous
consent of the BENEFICIARY, if all are of legal age, in which case the legal and
absolute ownership of the properties in trust shall vest in the said
BENEFICIARY.
FIFTH, The TRUSTEE hereby accepts the said Trust and agrees to carry out
the provisions and terms thereof.
SIXTH, If any of the provisions of this Trust will be held invalid or to be
prohibited by the applicable law, such provision will not invalidate the
remaining provisions of this Trust and such provisions of the Trust will be
amended or deleted as necessary to comply with the applicable law.
IN WITNESS WHEREOF, the TRUSTOR has hereunto set his hand, and
the TRUSTEE has duly affixed his signature under hand and seal on this 2nd of
DECEMBER, 2019.
EVANGELINE C. CLARO BYRON C. CLARO
Trustor Trustee
Signed in the presence of:
GINOO A. DOMINGO BEIA GARNETTE S. COSTE
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ACKNOWLEDGEMENT
REPUBLIC OF THE PHILIPPINES)
QUEZON CITY) S.S.
BEFORE ME, A Notary Public for and in Quezon City, Philippines, this
2nd day of December, 2019, personally came and appeared the following
persons with their respective Community Tax Certificates and competent valid
documents, to wit:
Competent ID/
Name Date/Place Issued
Document
GINOO DOMINGO Driver’s License 8/4/2018
BEIA COSTE Driver’s License 5/27/2018
all known to me and to me known to be the same persons who executed
the foregoing instrument, a TRUST AGREEMENT involving one (1) real
property, consisting of four (4) pages, including this page on which this
Acknowledgement is written and signed by the TRUSTOR, and the TRUSTEE
and sealed with my notarial seal, and they acknowledged that the same is their
own free act and voluntary deed and of the person represented.
WITNESS MY HAND AND SEAL on the date and place first above
written.
Notary Public
Doc. No. _____; ATTY. NOREEN TAMASE - CLARO
Page No._____; ROLL ATTORNEY NO. 14344
Book No._____; IBPLM No. 03919-1.15.05
Series of 2019. MCLE No. V-0006721-3.15
PTR No. 5611706-2.9.18-QC
Email: [email protected]
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